Cross-Straits investment pact to take effect

BEIJING - Two cross-Straits agreements on investment protection and promotion, as well as customs cooperation will take effect from Friday.

The Chinese mainland-based Association for Relations Across the Taiwan Straits made the announcement after exchanging documents with its Taiwan counterpart on Thursday, signalling that all preparations have been completed by both sides.

The two pacts were signed on August 9, 2012 by the heads of the ARATS and the Taiwan-based Straits Exchange Foundation, the bodies respectively authorized by the mainland and Taiwan to handle cross-Straits affairs.

Ministry of Commerce spokesman Shen Danyang said in Beijing Thursday that mainland authorities are happy to see that the two agreements will formally take effect from Friday.

He expressed the hope that authorities on both sides of the Taiwan Straits will introduce measures to match the two agreements and ensure that they are implemented smoothly.

"We are convinced that the implementation of both agreements will provide upgraded protection for the rights and interests of investors from both sides, lift restrictions on investment projects, create a fair investment environment and promote two-way investment, to contribute to the economic prosperity of both sides," he said.

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